UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington D.C.  20549

                                  FORM 10-QSB

                  QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                    OF THE SECURITIES EXCHANGE ACT OF 1934


          For Quarter Ended APRIL 30, 2000    Commission File Number 0-28759


                            REAL ESTATE OPPORTUNITIES, INC.
            (Exact name of registrant as specified in its charter)

                                                                       COLORADO
     84-1461919
        (State   or   other  jurisdiction  of  incorporation  or  organization)
(I.R.S. Employer Identification No.)


 3225 E  SECOND AVENUE, DENVER,  COLORADO                80206
(Address of principal executive offices)                 (Zip code)

                                 (303) 393-1600
             (Registrant's telephone number, including area code)

                         MONUMENT GALLERIES, INC.
(Former  name, former address and former fiscal year,  if  changed  since  last
report.)



Indicate by  check whether the registrant (1) has filed all reports required to
be filed by Section  13  or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or  for  such  shorter  period that the registrant was
required  to  file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.

                                     Yes        X                No

Indicate the number of shares outstanding  of  each  of the issuer's classes of
common stock, as of the latest practicable date.

                                   6,560,602
Class                Number  of shares outstanding at June 14, 2000


                    This document is comprised of 10 pages.
<PAGE>
FORM 10-QSB
1ST QUARTER
                                     INDEX

PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements*

Condensed, consolidated balance sheet - April 30, 2000 (Unaudited)...........3

Condensed, consolidated statements of operations - Three months ended
       April 30, 2000 and 1999, and May 15, 1998 (inception)
       Through April 30, 2000 (Unaudited)................................... 4
Condensed, consolidated statements of cash flows - Three months ended
       April 30, 2000 and 1999, and May 15, 1998 (inception)
       Through April 30, 2000 (Unaudited)....................................5

Notes to condensed, consolidated financial statements (Unaudited)............6

Item 2. Plan of operation ...................................................8



PART II - OTHER INFORMATION

Item 1.  Legal proceedings...................................................9

Item 2.  Changes In Securities ..............................................9

Item 3.  Defaults Upon Senior Securities ....................................9

Item 4.  Submission of Matters To A Vote of Security Holders.................9

Item 5.  Other Information ..................................................9

Item 6.  Exhibits and Reports on Form 8-K ...................................9

Signatures .................................................................10





*   The  accompanying  financial statements are not covered by  an  Independent
Certified Public Accountant's report.

<PAGE>
<TABLE>
<CAPTION>
                  REAL ESTATE OPPORTUNITIES, INC.
                  PART 1.  FINANCIAL INFORMATION
                   ITEM 1.  FINANCIAL STATEMENTS

         CONDENSED, CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (Unaudited)
<S>                                                     <C>
ASSETS

Current assets:
   Cash...........................................        $ 8,802
   Notes receivable, net   .......................         65,394
   Other receivables, net .....................                85
   Prepaid expenses..............................           8,000
                Total current assets  ............         82,281

Intangible assets (Note 2).........................       603,187
                                                  $       685,468

LIABILITIES AND SHAREHOLDERS' DEFICIT

Current liabilities:
   Accounts payable...............................       $  8,060
   Accrued interest payable ......................         14,873
   Short term debt  ..............................         46,592
   Current maturities long term debt............           21,500
                Total current liabilities  ......          91,025

Long-term debt (Note 4)  .........................        646,010
            Total liabilities.....................        737,035

Commitments  ................................             -

Shareholders' deficit:
       Common stock      .......................            6,185
       Additional paid-in capital.................        111,439
       Retained deficit............................     (169,191)
            Total shareholders' deficit ..........       (51,567)
                                                                          $
685,468


The  accompanying notes are an integral part of the condensed, consolidated
financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
                  REAL ESTATE OPPORTUNITIES, INC.
                  PART 1.  FINANCIAL INFORMATION
                   ITEM 1.  FINANCIAL STATEMENTS

         CONDENSED, CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (Unaudited)
<S>                                     <C>                 <C>
                                       For the Three Months Ended
                                                 April 30,

                                         2000                1999

Revenues.....................$              217      $         -

Operating expenses:
       General and administrative        19,807                -
       General and administrative-stock
        based compensation.               3,600                -
         General and administrative,
         related parties(Note   3)        6,500                -
           Total operating expenses      29,907                -

        Loss before interest and
         provision for income tax.  $   (29,690)    $          -

Interest expense  .............          15,909                -
        Loss before provision for
         income taxes                   (45,599)               -

Provision for income taxes
        (benefit) (Note  4)                  -                 -
           Net loss.............$       (45,599)   $           -






The  accompanying  notes  are an integral part of the  condensed,  consolidated
financial statements.
</TABLE>
<PAGE>
<TABLE>
<CAPTION>

                  REAL ESTATE OPPORTUNITIES, INC.
                  PART 1.  FINANCIAL INFORMATION
                   ITEM 1.  FINANCIAL STATEMENTS

         CONDENSED, CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (Unaudited)

<S>                                                <C>              <C>
                                       For the Three Months Ended
                                         April 30,
                                                      2000            1999

 Net cash  used  in operating activities $        (35,708)       $       -

Investing activities:
Cash paid for rights to future revenues
  from the sale of common stock,
  acquired  from  a  related   party              (26,480)              -
Cash paid for rights to future revenues
  from a certain note receivable,
  acquired from a related party                   (14,430)               -
 Cash paid for rights to future revenues
  from real estate development,
  acquired from a related party                   (92,154)               -
   Net  cash  used in investing activities       (133,064)               -


Financing activities:
Principle  payments  to  related
 party  on  notes  payable                        (26,490)               -
Proceeds from the sale of common stock,
      net of offering costs                       200,064                -
          Net  cash  provided  from
           financing  activities                  177,574                -
Net change in cash.....                             8,802                -
Cash at beginning of period                             -                -
         Cash at end of period             $        8,802        $       -

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

      Interest  ..........                $         1,036        $       -
      Income taxes ......                 $         1,036        $       -
  Noncash financing activities:
       Common stock issued for property.  $       253,000        $       -
               Common stock issued for debt $      12,732        $       -


The accompanying  notes  are  an  integral  part of the condensed, consolidated
financial statements.
</TABLE>
<PAGE>
                      REAL ESTATE OPPORTUNITIES, INC.
           NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS
                                (Unaudited)

NOTE 1:  BASIS OF PRESENTATION

The financial statements presented herein have been prepared by the Company
in  accordance with the accounting policies in  its  annual  10-KSB  report
dated  January  31,  2000  and should be read in conjunction with the notes
thereto.  The Company entered  the  development  stage  in  accordance with
Statement of Financial Accounting Standard ("SFAS") No. 7 on  May  15, 1998
and  its  purpose is to evaluate, structure and complete a merger with,  or
acquisition of, a privately owned corporation.

In the opinion  of  management,  all adjustments (consisting only of normal
recurring adjustments) which are necessary  to  provide a fair presentation
of operating results for the interim period presented  have been made.  The
results  of  operations  for  the  periods  presented  are not  necessarily
indicative of the results to be expected for the year.

On  April  6, 2000, FKJ Opportunities, Inc. exchanged 100  percent  of  its
outstanding  shares  of  common  stock  for 5, 432,977 shares of the common
stock of Real Estate Opportunities, Inc.  This acquisition has been treated
as a recapitalization of FJK Opportunities,  Inc.,  a Colorado corporation,
with  Real  Estate Opportunities, Inc. the legal surviving  entity.   Since
Real Estate Opportunities, Inc. had, prior to the recapitalization, minimal
assets (consisting  principally of cash and receivables) and no operations,
the recapitalization has been accounted for as the sale of 1,127,625 shares
of common stock for the  net  assets  of  Real  Estate  Opportunities, Inc.
Costs   of   the  transaction  have  been  charged  to  the  period.    The
recapitalization  took  place  on  April  6,  2000; however, the condensed,
consolidated   financial   statements  have  been  prepared   as   if   the
recapitalization took place on April 1, 2000.

Interim financial data presented herein are unaudited.

NOTE 2: INTANGIBLE ASSETS

Intangible assets consisted of the following at April 30, 2000:
<TABLE>
<CAPTION>
<S>                                                      <C>
   Rights to interest in commercial real estate acquired
      from related party .....................     $       30,526
   Rights to interest in residential real estate development
   including water rights, from related party....         480,909
   Rights to interest in proceeds from the sale of
      American Tire Corporation common stock....           91,752
                                                    $     603,187
</TABLE>
<PAGE>
                  REAL ESTATE OPPORTUNITIES, INC.
       NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS
                            (Unaudited)

NOTE 3: RELATED PARTY TRANSACTIONS

During the three months ended April 30, 2000 the Company:

(a)The Company rented office  space from an affiliate during the quarter to
   which this Quarterly Report  is  filed.   Total  cost was $2,400 for the
   quarter.

(b)The Company paid an affiliate $600 for accounting  services  during  the
   quarter to which this Quarterly Report is filed.

(c)The  Company paid an affiliate $6,000 for consulting services related to
   real estate  property  investments  during  the  quarter  to  which this
   Quarterly Report relates.

(d)On  April 3, 2000 and April 12, 2000, the Company acquired a 10  percent
   interest  in  certain real property from Platinum Financial Fund LLC for
   $12,600 and $15,000, respectively, bringing the Company's total interest
   in the real property to approximately 41 percent as of April 30, 2000.

NOTE 4:  LONG-TERM DEBT

Notes payable, related  parties  consists  of the following as of April 30,
2000:
<TABLE>
<CAPTION>
<S>                                            <C>
Note payable to Asset Realization, Inc. (an affiliate),
    collateralized by a first deed of trust, at 13.5 percent interest,
    with interest due August 1, 2000 and $46,045
    due August 1, 2001....................... $            40,261
Note payable to Krupka-Brophy Profit Sharing plan (an affiliate),
    collateralized by a first deed of trust, at 9 percent interest,
    with semi-annual payments of $39,730 and a balloon payment
    of $503,410 due February 3, 2002  ........            513,960
                                                          554,221
    Less current maturities                                15,779
                                               $          538,442

Notes payable, other consists of the following as of April 30, 2000:

Note payable to an unrelated third-party, collateralized by a
     first deed of trust, at 13.5 percent interest, with semi-annual
     payments of $6,338 and a balloon payment of $32,971
     due February 3, 2002..................  $             38,387

<PAGE>
                  REAL ESTATE OPPORTUNITIES, INC.
       NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS
                            (Unaudited)

Note payable to an unrelated third-party, collateralized by a
     first deed of trust, at 13.5 percent interest, with semi-annual
     payments of $5,363 and a balloon payment of $53,520
     due February 3, 2002 ................                 53,402
                                                           91,789

     Less current maturities.............                   5,721
                                                 $         86,068
</TABLE>
Aggregate  maturities  required on long-term debt  at  April  30,  2000  as
follows:

<TABLE>
<CAPTION>
<S>                                              <C>
2001.........................................    $         21,500
2002........................................               11,017
2003.........................................             634,993
                                                  $       667,510
</TABLE>

NOTE 5:  INCOME TAXES

The Company records its  income  taxes  in  accordance  with  Statement  of
Financial  Accounting Standard No. 109, "Accounting for Income Taxes".  The
Company incurred  net  operating losses during the three months ended April
30, 2000 resulting in a  deferred  tax  asset, which was fully allowed for,
therefore the net benefit and expense result in $0 income taxes.

NOTE 6:  SHAREHOLDERS' DEFICIT

A reconciliation of the number of shares  of  the Registrant's common stock
outstanding, after the recapitalization described in Note 1, is as follows:

<TABLE>
<CAPTION>
<S>                                                       <C>
January 31, 2000 balance    ......................        751,750
April 4, 2000 common stock dividend  .............        375,875
Number of shares of common outstanding prior to
   recapitalization................................     1,127,625

April 6, 2000 exercise of common stock options   .        200,000
April 6, 2000 number of shares issued in
    recapitalization  ............................      5,232,977
Number of shares outstanding after the acquisition       6,560,602
</TABLE>
<PAGE>

                   PART 1. FINANCIAL INFORMATION
                     ITEM 2. PLAN OF OPERATION

Organized on January 1, 2000, we acquired Monument  Galleries,  Inc.,  in a
reverse  acquisition,  on  April  6,  2000.   We  are  in  the  real estate
opportunities  business.   Monument Galleries, Inc. was in the retail  arts
and craft industry before selling  that  business  back  to  its  principle
shareholders and merging with us.

In  January  2000,  we acquired a 26 percent interest in Platinum Financial
Fund LLC's ("Platinum")  share  of  its interest in certain commercial real
property for $25,674 and 50,000 shares  of  the  Company's  $.001 par value
common stock. The property is located in Denver, Colorado.  In  March 2000,
we  acquired  an  additional  5  percent  from an unrelated third party  in
exchange for 36,665 shares of our common stock.  In April 2000, we acquired
an  additional  10  percent in Platinum's interest  in  the  property  from
Platinum for $27,600  bringing our total interest in Platinum's interest to
approximately 41 percent  as  of  April 30, 2000.  Platinum is an affiliate
and it holds a one-third interest in  the property.  That interest entitles
Platinum to one-third of the rental income  and  management  fees  from the
property  and  one-third of the net proceeds from the sale of the property.
We recorded the  related  party  transactions at Platinum's historical cost
because of the affiliated relationship.  During the period from January 20,
2000 through April 30, 2000, we received $132  and  $-0-,  respectively  in
rent  and management fees. The current plan is to develop the property into
condominiums in 2001, subject to the availability of financing.

In addition, during the quarter, we acquired a Promissory Note (the "Note")
from Platinum  for $14,430 and 100,000 shares of our $.001 par value common
stock.  We also  assumed  three  related  debt obligations totaling $59,289
when we acquired the Note.  We are liable under  the  debt obligations only
to the extent that we receive proceeds from the Note.   The  Note, which is
collateralized by real property, was in default at the time we  acquired it
from Platinum.  The Note has a face value of $82,000. We recorded  the Note
at  Platinum's historical cost and subsequently wrote the Note down to  its
net realizable value at March 31, 2000 based on our share of the underlying
collateral. In May 2000, we received a Trustee's Certificate of Sale in the
amount of $103,101.  Our plan is to sell the collateral (unless the Note is
redeemed) and retire the debt obligations.

On February  3,  2000,  we entered into a purchase agreement to acquire the
rights to certain land and  water rights held for development.  We acquired
the rights from the Krupka-Brophy  Profit  Sharing  Plan  (the  "Plan") for
$65,000 and debt, payable to the Plan and to Asset Realization, Inc. (ARI),
totaling  $690,000.  The  Plan  and ARI are affiliates.  We recorded  these
transactions at the affiliate's historical  cost.  The  present  plan is to
develop this property and to sell to builders, beginning in 2001. Proceeds,
if any, from our interest in the property will be used to retire the  debt.
There  is  no  assurance  that  the  development  will  take  place  or  be
profitable.
<PAGE>

On February 3, 2000, we acquired the right to the proceeds from the sale of
3,888  shares of American Tire Corporation (ATC) common stock from Platinum
for $11,480.   On February 18, 2000, we acquired an additional right to the
proceeds  from  the sale of 64,000 shares of ATC common stock from Platinum
for $15,000 and the  issuance  of 1.5 million shares of the Company's $.001
par value common stock.   The ability  to sell the ATC shares is subject to
Rule 144 of the Securities Act of 1933,  as amended.  Once this restriction
is lifted (September 2000, at the earliest),  we  plan  to  sell  all  or a
portion  of  our  holdings.   Proceeds  from  the sale will be used to fund
current  and future projects.  The ATC stock is  traded  in  the  over-the-
counter market  and its price fluctuates.  We have not lined up a buyer for
the stock, once the  Rule  144  restriction is lifted.  As of June 15, 2000
the closing price of the ATC stock was $2.81, per share.

This is our first quarter of operations  as  a  real  estate  opportunities
business.   We  conducted  minimal  income producing operations during  the
quarter for which this Quarterly Report  is  filed.  Our expenses consisted
principally of accounting, legal, and interest  expense.   We  were  not in
existence during the year earlier period.

We  sold  founder's  shares to friends and relatives which provided $89,010
and we commenced a private  offering  of  1  million  shares  of our common
stock, at $.15 per share, on March 15, 2000, which we sold out  in one day.
The stock sales provided capital totaling $200,064, net of the costs of the
private  offering.   Our  balance  sheet  reflected  notes payable totaling
$646,010 and short-term debt of $46,592 at April 30, 2000.  Since the notes
payable  mature  over three years (with most of the principle  due  in  the
third year), we plan to use the proceeds from lot sales to retire the debt.
Our short-term debt  obligations, totaling $46,592, will be retired only to
the extent that we receive  proceeds  from the sale of the collateral or if
the Note is redeemed. During the quarter  ended  April  30,  200,  we  made
principle  payments  on  note payable totaling approximately $22,500 to the
affiliates noted above.  For  the  foreseeable  future,  our  liquidity and
financial  health  will  be  dependent upon the success or failure  of  our
rights.

PART II - OTHER INFORMATION

Items 1 Through 5 - No response required.

Item 6 -  Exhibits and reports on Form 8-K.

        (a)  Exhibits

        27*  Financial Data Schedule.

        (b)  Reports on Form 8-K were filed on:

        None

<PAGE>
                  REAL ESTATE OPPORTUNITIES, INC.

SIGNATURES

The financial information furnished  herein  has  not  been  audited  by an
independent   accountant;  however,  in  the  opinion  of  management,  all
adjustments (only  consisting of normal recurring accruals) necessary for a
fair presentation of  the  results of operations for the three months ended
April 30, 2000 have been included.

Pursuant to the requirements  of  the  Securities and Exchange Act of 1934,
the Registrant has duly caused this report  to  be  signed on its behalf by
the undersigned thereunto duly authorized.



                         REAL ESTATE OPPORTUNITIES, INC.
                         (formerly Monument Galleries, Inc.)
                               (Registrant)




DATE: June 29, 2000      BY:               /S/     F.    JEFFREY     KRUPKA